LAW OF THE REPUBLIC OF KAZAKHSTAN

of July 17, 2015 No. 333-V ZRK

About modification and amendments in some legal acts of the Republic of Kazakhstan concerning strengthening of protection of the property right, guaranteeing protection of contractual commitments and toughening of responsibility for their violation

Article 1. Make changes and additions to the following legal acts of the Republic of Kazakhstan:

1. In the Civil code of the Republic of Kazakhstan (General part) accepted by the Supreme Council of the Republic of Kazakhstan on December 27, 1994 (Sheets of the Supreme Council of the Republic of Kazakhstan, 1994, No. 23-24 (appendix); 1995, No. 15-16, of Art. 109; No. 20, Art. 121; Sheets of Parliament of the Republic of Kazakhstan, 1996, No. 2, Art. 187; No. 14, Art. 274; No. 19, Art. 370; 1997, No. 1-2, of Art. 8; No. 5, Art. 55; No. 12, Art. 183,184; Art. No. 13-14, 195, 205; 1998, No. 2-3, of Art. 23; No. 5-6, of Art. 50; No. 11-12, of Art. 178; Art. No. 17-18, 224, 225; No. 23, Art. 429; 1999, No. 20, Art. 727, 731; No. 23, Art. 916; 2000, No. 18, Art. 336; No. 22, Art. 408; 2001, No. 1, Art. 7; No. 8, Art. 52; No. 17-18, of Art. 240; No. 24, Art. 338; 2002, No. 2, Art. 17; No. 10, Art. 102; 2003, No. 1-2, of Art. 3; No. 11, Art. 56, 57, 66; No. 15, Art. 139; No. 19-20, of Art. 146; 2004, No. 6, Art. 42; No. 10, Art. 56; No. 16, Art. 91; No. 23, Art. 142; 2005, No. 10, Art. 31; No. 14, Art. 58; No. 23, Art. 104; 2006, No. 1, Art. 4; No. 3, Art. 22; No. 4, Art. 24; No. 8, Art. 45; No. 10, Art. 52; No. 11, Art. 55; No. 13, Art. 85; 2007, No. 2, Art. 18; No. 3, Art. 20, 21; No. 4, Art. 28; No. 16, Art. 131; No. 18, Art. 143; No. 20, Art. 153; 2008, No. 12, Art. 52; No. 13-14, of Art. 58; No. 21, Art. 97; No. 23, Art. 114, 115; 2009, Art. No. 2-3, 7, 16, 18; No. 8, Art. 44; No. 17, Art. 81; No. 19, Art. 88; No. 24, Art. 125, 134; 2010, No. 1-2, of Art. 2; No. 7, Art. 28; No. 15, Art. 71; No. 17-18, of Art. 112; 2011, No. 2, Art. 21, 28; No. 3, Art. 32; No. 4, Art. 37; No. 5, Art. 43; No. 6, Art. 50; No. 16, Art. 129; No. 24, Art. 196; 2012, No. 1, Art. 5; No. 2, Art. 13, 15; No. 6, Art. 43; No. 8, Art. 64; No. 10, Art. 77; No. 11, Art. 80; No. 20, Art. 121; No. 21-22, of Art. 124; No. 23-24, of Art. 125; 2013, No. 7, Art. 36; No. 10-11, of Art. 56; No. 14, Art. 72; No. 15, Art. 76; 2014, No. 4-5, of Art. 24; No. 10, Art. 52; No. 11, Art. 61, 63; No. 14, Art. 84; No. 21, Art. 122; No. 23, Art. 143; 2015, No. 7, Art. 34, No. 8, Art. 42, 45):

1) changes are made to the text of Article 261 in Kazakh, the text in Russian does not change;

Part the second Item 2 of Article 267 to add 2) with the words "according to rules of Item 1 of Article 922 of this Code";

Item 2 of Article 317 to add 3) with part two of the following content:

"Violation of the obligation provided with pledge is extremely insignificant and the size of requirements of the pawnbroker obviously disproportionate costs of pledged property in case of simultaneous availability of the following conditions:

1) the amount of the unexecuted obligation (without penalty (penalty, penalty fee) is made by less than ten percent from the cost of pledged property determined by the parties in the pledge agreement;

The period of delay of the obligation fulfillment provided with pledge constitutes 2) less than three months.";

Item 2 of Article 321 to add 4) with the subitem 4) of the following content:

"4) violations by the pledger of the obligation provided with pledge (Articles 317, 720 and 722 of this Code, article 20 of the Law of the Republic of Kazakhstan of December 23, 1995 "About mortgage of real estate")".

2. In the Civil code of the Republic of Kazakhstan (Special part) of July 1, 1999 (The sheet of Parliament of the Republic of Kazakhstan, 1999, No. 16-17, of Art. 642; No. 23, Art. 929; 2000, No. 3-4, of Art. 66; No. 10, Art. 244; No. 22, Art. 408; 2001, No. 23, Art. 309; No. 24, Art. 338; 2002, No. 10, Art. 102; 2003, No. 1-2, of Art. 7; No. 4, Art. 25; No. 11, Art. 56; No. 14, Art. 103; No. 15, Art. 138, 139; 2004, No. 3-4, of Art. 16; No. 5, Art. 25; No. 6, Art. 42; No. 16, Art. 91; No. 23, Art. 142; 2005, No. 21-22, of Art. 87; No. 23, Art. 104; 2006, No. 4, Art. 24, 25; No. 8, Art. 45; No. 11, Art. 55; No. 13, Art. 85; 2007, No. 3, Art. 21; No. 4, Art. 28; No. 5-6, of Art. 37; No. 8, Art. 52; No. 9, Art. 67; No. 12, Art. 88; 2009, No. 2-3, of Art. 16; No. 9-10, of Art. 48; No. 17, Art. 81; No. 19, Art. 88; No. 24, Art. 134; 2010, No. 3-4, of Art. 12; No. 5, Art. 23; No. 7, Art. 28; No. 15, Art. 71; No. 17-18, of Art. 112; 2011, No. 3, Art. 32; No. 5, Art. 43; No. 6, Art. 50, 53; No. 16, Art. 129; No. 24, Art. 196; 2012, No. 2, Art. 13, 14, 15; No. 8, Art. 64; No. 10, Art. 77; No. 12, Art. 85; No. 13, Art. 91; No. 14, Art. 92; No. 20, Art. 121; No. 21-22, of Art. 124; 2013, No. 4, Art. 21; No. 10-11, of Art. 56; No. 15, Art. 82; 2014, No. 1, Art. 9; No. 4-5, of Art. 24; No. 11, Art. 61, 69; No. 14, Art. 84; No. 19-I, 19-II, Art. 96; No. 21, Art. 122; No. 23, Art. 143; 2015, No. 7, Art. 34, No. 8, Art. 42, 45):

to add Items 3 and 4 of Article 722 with words ", and also to meet the requirements by the address of collection of pledged property (the subitem 4) of Item 2 of Article of 321 of this Code)".

3. In the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (Sheets of the Supreme Council of the Republic of Kazakhstan, 1995, No. 15-16, of Art. 106; Sheets of Parliament of the Republic of Kazakhstan, 1996, No. 2, Art. 184; No. 15, Art. 281; No. 19, Art. 370; 1997, No. 5, Art. 58; No. 13-14, of Art. 205; No. 22, Art. 333; 1998, No. 11-12, of Art. 176; No. 17-18, of Art. 224; 1999, No. 20, Art. 727; 2000, No. 3-4, of Art. 66; No. 22, Art. 408; 2001, No. 8, Art. 52; No. 9, Art. 86; 2002, No. 17, Art. 155; 2003, No. 5, Art. 31; No. 10, Art. 51; No. 11, Art. 56, 67; No. 15, Art. 138, 139; 2004, No. 11-12, of Art. 66; No. 15, Art. 86; No. 16, Art. 91; No. 23, Art. 140; 2005, No. 7-8, of Art. 24; No. 14, Art. 55, 58; No. 23, Art. 104; 2006, No. 3, Art. 22; No. 4, Art. 24; No. 8, Art. 45; No. 11, Art. 55; No. 16, Art. 99; 2007, No. 2, Art. 18; No. 4, Art. 28, 33; 2008, No. 17-18, of Art. 72; No. 20, Art. 88; No. 23, Art. 114; 2009, Art. No. 2-3, 16, 18, 21; No. 17, Art. 81; No. 19, Art. 88; No. 24, Art. 134; 2010, No. 5, Art. 23; No. 7, Art. 28; No. 17-18, of Art. 111; 2011, No. 3, Art. 32; No. 5, Art. 43; No. 6, Art. 50; No. 12, Art. 111; No. 13, Art. 116; No. 14, Art. 117; No. 24, Art. 196; 2012, No. 2, Art. 15; No. 8, Art. 64; No. 10, Art. 77; No. 13, Art. 91; No. 20, Art. 121; No. 21-22, of Art. 124; No. 23-24, of Art. 125; 2013, No. 10-11, of Art. 56; No. 15, Art. 76; 2014, No. 1, Art. 9; No. 4-5, of Art. 24; No. 6, Art. 27; No. 10, Art. 52; No. 11, Art. 61; No. 12, Art. 82; No. 19-I, 19-II of the Art. 94, 96; No. 21, Art. 122; No. 22, Art. 131; No. 23, Art. 143; 2015, No. 8, Art. 45):

in Article 34:

add Item 2 with parts two, the third and fourth the following content:

"By the list of compulsory provisions of the agreement of bank loan it is established including form of the instruction sheet for the borrower - physical person.

The instruction sheet for the borrower - physical person contains the total amount and loan currency, loan term, quantity of loan payments, remuneration rate type (fixed or floating), the remuneration rate size in annual interests and in reliable, annual, effective, comparable basis, total amount to repayment on loan, total sum of remuneration, the penalty size (penalty, penalty fee) for untimely repayment of principal debt and remuneration, term of prolongation of insurance contracts, other types of penalties, penalty fee according to terms of the contract of bank loan.

The instruction sheet for the borrower - physical person is signed by each agreement party of bank loan, sealed bank and attached to the agreement of bank loan.";

add with Item 2-1 of the following content:

"2-1. Requirements of parts two, the third and fourth Item 2 of this Article do not extend to the loan issued for the term of no more than one month, the loan issued within credit line by payment card, the credit the overdraft.".

4. In the Law of the Republic of Kazakhstan of December 23, 1995 "About mortgage of real estate" (Sheets of the Supreme Council of the Republic of Kazakhstan, 1995, No. 24, Art. 165; Sheets of Parliament of the Republic of Kazakhstan, 1997, No. 13-14, of Art. 205; 2000, No. 18, Art. 336; 2003, No. 11, Art. 67; 2005, No. 23, Art. 104; 2007, No. 2, Art. 18; No. 4, Art. 28; No. 18, Art. 143; 2011, No. 3, Art. 32; No. 6, Art. 50; No. 11, Art. 102; 2012, No. 13, Art. 91; No. 20, Art. 121; 2013, No. 14, Art. 72; 2014, No. 11, Art. 61; 2015, No. 8, Art. 45):

state Article 20 in the following edition:

"Article 20. Basis and methods of realization of mortgage

1. Collection on pledged property for satisfaction of requirements of the pawnbroker can be turned in case of non-execution by the debtor of the obligation provided with mortgage for which he is responsible.

2. The pawnbroker has the right to meet the requirements in the way:

1) realization of mortgage judicially;

2) realization of mortgage extrajudicially if it is provided by the laws of the Republic of Kazakhstan or in the mortgage agreement or the subsequent agreement of the parties;

3) addresses to the property of pledged property in case of the announcement of the biddings cancelled according to article 32 of this Law.".

5. In the Law of the Republic of Kazakhstan of October 23, 2008 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning stability of financial system" (Sheets of Parliament of the Republic of Kazakhstan, 2008, Art. No. 17-18, 72):

to state item 4 of Article 2 in the following edition:

"4. In case of involuntary liquidation of participating bank of system of obligatory guaranteeing deposits during the period from January 1, 2007 to January 1, 2012 the organization performing obligatory guaranteeing deposits pays to depositors - physical persons warranty compensation on the guaranteed deposits in the remaining balance amount on the deposit without the remuneration added on the deposit, but no more than five million tenges.".

Article 2.

1. This Law becomes effective after ten calendar days after day of its first official publication.

2. The organization performing obligatory guaranteeing deposits within fourteen working days from the date of enforcement of this Law shall publish in the periodic printing editions distributed in all territory of the Republic of Kazakhstan, in the Kazakh and Russian languages information on the beginning of payment of warranty compensation with indication of the name of the agent bank (or the National operator of mail in case of impossibility of the choice of agent bank) performing payment of warranty compensation, the period and the place (places) of payment or about delay of the beginning of payment of warranty compensation.

3. The depositor of compulsorily liquidated participating bank within six months from the date of release of the announcement of the beginning of payment of warranty compensation addresses to agent bank with the requirement about payment of warranty compensation to it and represents:

1) the written application in the form determined by the organization performing obligatory guaranteeing deposits;

2) the document proving his identity;

3) in case of the address of the heir - the documents confirming its right to inheritance or right to use of money of the testator;

4) in case of the address of the representative of the depositor (heir) - notarially certified power of attorney.

In case of confirmation of rights to claim of the depositor against compulsorily liquidated participating bank the agent bank pays warranty compensation no later than five working days from the date of the appeal of the depositor to agent bank.

4. The questions which are not settled by this Law are regulated by the Law of the Republic of Kazakhstan of July 7, 2006 "About obligatory guaranteeing the deposits placed in banks of the second level of the Republic of Kazakhstan".

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